Acuity Knowledge Partners, a UK-based provider of research, analytics, and business intelligence solutions to the financial services sector, has acquired PPA Group, in a move to expand automation capabilities for commercial lenders.

The financial terms of the deal were not disclosed.

PPA Group specialises in technology-enabled services for financial institutions in Germany and Switzerland.

The company focuses on bespoke structuring of global financial and environmental, social, and governance (ESG) data for commercial lending and ESG analysis.

PPA Group has offices in Darmstadt, Germany, and Zurich, Switzerland. It is said to bring over two decades of experience collaborating with major European banks to enhance their understanding and utilisation of complex counterparty data.

According to Acuity Knowledge Partners, the in-house developed software-enabled services and deep domain expertise of PPA Group ensure precise, cost-effective, and secure outcomes for its expanding client base.

Furthermore, PPA Group facilitates the digitalisation and preparation of corporate data for financial service providers.

Over 50 commercial banks across the D-A-CH region are said to have entrusted PPA Group with outsourcing data preparation for internal decision-making processes.

With around 150 experts based in Darmstadt and Glattbrugg, PPA processes more than 300,000 documents annually. The firm employs a hybrid process combining artificial intelligence and skilled professionals for delivering tailored data solutions in accordance with customer-specific requirements.

PPA Group CEO Heimo Saubach said: “We have built a best-in-class data extraction and processing business serving European lending customers. Becoming part of Acuity Knowledge Partners will allow us to expand our market share globally and provide additional value to our existing customer base.

“It also means we can combine our advanced understanding of AI platforms with that of Acuity to create new and market-leading solutions. Acuity and PPA share the same mission of being a strategic and trusted partner to our customers and a great place to work for our employees.”

Acuity Knowledge Partners caters to asset managers, private equity and venture capital firms, corporate and investment banks, hedge funds and consulting firms with customised research, analytics, and technology solutions.

The London-based firm has a global network of more than 6,000 analysts and industry experts. Utilising proprietary technology, it aids over 600 financial institutions and consulting firms in enhancing operational efficiency, harnessing their human capital, and transforming their processes.

Acuity Knowledge Partners CEO Robert King said: “Our combined platform will provide clients with a market-leading service, and we look forward to integrating PPA’s innovative use of AI and Machine Learning into our portfolio of solutions.

“The acquisition also adds direct presence in two important and major European financial markets, Germany, and Switzerland.”

PPA Group had engaged 4GC as its exclusive merger and acquisition adviser.